Usman Salis
Nvidia (NVDA) is testing a make-or-break level right now. The stock has bumped into $184 resistance five times since August, and each time sellers have pushed it back. But here's the thing: repeated tests like this often mean buyers are gathering strength, and a breakout could be close.
The Setup: Five Tests and Counting
Technical analysts, including EliteOptionsTrader, are watching this closely. A clean break above $184 could set the stage for a run toward $200 in the next few months, backed by strong fundamentals and momentum.
The chart tells a clear story. $184.58 has been the ceiling since early August, and the stock keeps coming back to test it. This kind of consolidation near all-time highs usually signals accumulation, not exhaustion. Meanwhile, support has been building underneath. Buyers have defended $175.20 and $168.69 multiple times, with deeper cushions at $163.67 and $158.26 if things get shaky. That layered structure makes a sharp drop less likely and gives bulls room to work.
If Nvidia finally cracks through $184 with volume and conviction, the next stops are likely $190.40, $196.05, and $200.60. Those levels line up with the bullish case for hitting $200 before the year ends.
What's Driving the Stock?
Nvidia's dominance in AI chips keeps it at the center of the tech trade. The company consistently beats earnings expectations, and institutional investors keep buying. It's also one of the biggest names in the megacap rally, so when market sentiment turns risk-on, NVDA tends to move. On top of that, options traders have been loading up on calls around $180–$185, which can amplify price moves when a breakout happens.
Usman Salis
